CityFibre is set to complete a £200m takeover of Talktalk's fire division.

Plans to buy the section of the connectivity provider were put on hold after Labour announced plans to nationalise broadband but are now back on track according to Sky News.

Goldman Sachs-backed CityFibre could close the deal to buy TalkTalk's FibreNation unit today (Friday 17 January) with negotiations at the advanced stages in the evening.

Under the proposed agreement CityFibre will take controlof the FibreNation arm with TalkTalk receiving a cash payment as well as a long-term customer agreement.

TBT has reached out to TalkTalk for comment but is yet to receive a response. CityFibre has declined to comment at this stage.